NewsBiden Forgives An Additional $4.9 Billion In Student Loans

Biden Forgives An Additional $4.9 Billion In Student Loans

The latest round of debt relief places the total loan forgiveness approved by the federal government to $136.6 billion which covers over 3.7 million Americans.

“The Biden-Harris Administration has worked relentlessly to fix our country’s broken student loan system and address the needless hurdles and administrative inaccuracies that, in the past, kept borrowers from getting the student debt forgiveness they deserved, Cardona stated.

Cardona continued, “The nearly $5 billion in additional debt relief announced today will go to teachers, social workers, and other public servants whose service to our communities have earned them Public Service Loan Forgiveness, as well as borrowers qualifying for income-driven repayment forgiveness because their payments are for the first time being accurately accounted for.”

According to the U.S. Under Secretary of Education, James Kvaal, the Biden-Harris Administration is motivated to assist those who the student loan system have had a hand in harming. “Today we are helping borrowers who were promised help with their loans, planned their lives around those promises, and earned forgiveness through years of payments,” Kvaal said. “The Biden-Harris Administration is not going to stop until we’ve helped all of those harmed by the broken student loan system.”

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Source: Black Enterprise


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